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What Is A Gut Renovation?

Any renovation or remodeling of an apartment or another structure that requires stripping away the walls and flooring to expose the “guts” of the structure is called a gut renovation. A full building or apartment gut renovation sometimes also includes tearing down walls, which leaves you with just the outer structure (shell) and load bearing […]

What Is A Capital Gains Tax?

Capital gain (or profit) is when you sell an asset (like real estate) for more than you bought it. The capital gains tax is the tax you have to pay the federal government and the city/state government on the profits you made. For example, if you bought an apartment for $500,000 and sold it for […]

What Is ACRIS?

ACRIS stands for Automated City Register Information System (ACRIS). It’s primarily a database of the property records (which are public) for all commercial and residential properties in NYC’s four boroughs: the Bronx, Brooklyn, Manhattan, and Queens. Staten Island is not part of ACRIS. But it allows you to do more than that.  The records are […]

What Is An HVAC?

What Does HVAC Stand For? HVAC stands for Heating, Ventilation, and Air Conditioning. What Does It Do? An HVAC system is responsible for heating, cooling, and maintaining airflow in a building. HVAC usually refers to central air and heating systems. In NYC, central heating is quite common, but central cooling is not. One reason for […]

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